PROPERTY developer WestProp Holdings Limited says it is restructuring its balance sheet to remove non-performing assets, as the group seeks to strengthen its financial position amid ongoing large-scale developments.
The developer reported total assets of US$239,99 million for the financial year ended December 31, 2025, up from US$213,5 million in the prior year.
Investment properties — which include flagship developments such as The Hills Golf Course & Lifestyle Estate, Millennium Heights, Pokugara Properties and Mall of Zimbabwe — accounted for the largest share of the asset base at US$157,77 million.
The company also holds land earmarked for future development along Alps Road and Borrowdale Road, which recorded a fair value gain of US$7,24 million, according to valuers Phoenix Real Estate.
“Further to the cautionary statement dated 16 April 2026, shareholders are advised that professional consultations on the restructure of the company to remove non-performing assets are underway,” WestProp said in a statement.
“If successful, the transaction may have a material effect on the company’s securities price. Accordingly, shareholders and members of the public are advised to exercise caution when dealing in the company’s securities until a full announcement is made.”
The company’s projects remain capital-intensive and are still under development, meaning some have yet to become fully income-generating.
WestProp said the board would provide further updates once more information becomes available-newsday
